Team Blitz India
NEW DELHI: The Indian Pharmaceutical Market (IPM) saw a 9.5 per cent growth in March 2024 on the back of all major therapy areas showing positive value growth, according to market research firm Pharmatrac.
Growth in the moving annual turnover (MAT or previous 12 months’ turnover) between April 2023 and March 2024 was 6.5 per cent, leading to a total turnover of Rs 1.98 trillion, while volumes in the domestic market dipped by 1 per cent.
“Almost all therapies have shown positive value growth, except for respiratory, which recorded negative value growth. Price growth percentage has continued to be positive, whereas volume growth percentage is negligible for March 2024,” said Sheetal Sapale, Vice-President (commercial) at Pharmarack.
Among the leading therapies, cardiac, anti-infectives, and gastro-intestinal have shown relatively robust volume growth at 7.5 per cent, 6.8 per cent, and 5.8 per cent respectively, in MAT figures.
